Phone Recordings Admissible In Ex-UBS Execs' Trial: Judge

Law360, New York (October 5, 2012, 4:44 PM EDT) -- A New York federal judge on Thursday ruled that certain recordings of phone conversations and related testimony were properly admitted into evidence of the jury trial that convicted three former UBS AG executives of rigging bids on municipal bond investments, finding the statements are evidence of horizontal collusion.

U.S. District Judge Kimba M. Wood shot down defendant Gary Heinz’s motion to strike the testimony given by cooperating witness Alexander Wright regarding two recorded conversations between Heinz and Wright, while Heinz was employed at UBS and Wright...